ANNUAL REPORT

2018

TOGETHER

WE ARE

STRONGER

TRUST VISION

To be a champion of positive

opportunities and an agent of

benefi cial change for Taranaki and

its people now and in the future.

Kia tŪ hei kaihĀpAi ki te whakatairanga i

ngĀ kŌwhiringa, Ā, hei kaiwhakawhanake

i ngĀ iwi o Taranaki ki Ānamata.

Tēnā koutou, tēnā koutou, tēnā koutou katoa. Welcome to the TSB Community Trust Annual Report for 2018.

This will be my last Chair’s report for the TSB Community Trust, a er three terms (12 years) I am re ring and my term fi nishes in July 2018.

It has been a huge privilege to be involved in the Trust over the past 12 years. Looking back the Trust has developed a great deal since I commenced as a Trustee in 2006.

Now more than a simple grant maker, the Trust has moved from transac onal grant making into strategic philanthropy. A new Vison and Strategic Overview was developed in 2016 and is now well on the way to being implemented. In the next 12 months the Trust will be more involved in Innova ve Philanthropy and Impact Inves ng. One of the key changes for the Trust since 2016, has been to focus on child and youth wellbeing in a whānau context. The aim is to have an intergenera onal impact, ensuring that our young people are well equipped to take Taranaki forward, a er all they are our future.

The Trust’s asset base has also grown immensely, in 2015 the Trust developed a new company structure and TSB Group Ltd purchased the fi rst tranche of Fisher Funds Management Ltd. The Trust has con nued to grow in this area and in August 2017, TSB Group Ltd took a controlling interest in Fisher Funds. I believe that the income that will be derived from that investment will complement the outstanding performance of TSB Bank Ltd and will be of immense value for this community. It will have a signifi cant impact both at an economic and a social level in the years to come.

Being the Chair of both TSB Community Trust and TSB Group Ltd during this me of signifi cant change has been an extraordinary experience.

A big thank you must go to TSB and Fisher Funds, and everyone in our community that support them, without them the Trust’s work would not be possible.

STRATEGIC COLLABORATIONOver the past 12 months the Trust has con nued to work steadily towards our strategic vision introduced in 2016; that of championing posi ve opportuni es and intergenera onal change.

Collabora on and working together on mutual strategies has been a strong focus this year, with three signifi cant Memorandums

of Understanding being agreed with key organisa ons. This will enable us to collec vely contribute to improving wellbeing in Taranaki, for genera ons to come.

BOUNDARY CHANGE PROPOSALThe Trust has con nued to await the outcome of its joint boundary change proposal with Whanganui Community Founda on. The Trust is hopeful of a posi ve outcome that will see communi es within the South Taranaki District boundary included in the Trust’s legisla ve area. I had hoped to see this change happen during my me with the Trust, but I know that the staff and Trustees are

looking forward to engaging with those communi es once the process is complete.

GOVERNANCEOn 1 July 2018 there will be a change of Trustees as myself and Kelly Marriner will formally re re from the Board. I will have served 12 years, spending the past six as Chair, while Kelly has served eight years, six of those as Deputy Chair.

Harvey Dunlop has been elected by the Board to take over as Chair, and Jenny Gellen as Deputy Chair. At the me of wri ng this report we have yet to be formally advised of the new Trustee appointments.

FAREWELL MESSAGEAs I depart my role on the Board, I wish to thank my fellow Trustees for all the support they have each aff orded me during my me as Trustee and Chair. The commitment that they have for the wonderful region of Taranaki is truly outstanding.

I also wish to thank our Chief Execu ve Maria Ramsay for the energy and determina on she has brought to her role, suppor ng myself and the Board through rapid change, since 2007.

It has truly been an honour to take part in the Trust’s journey, and as the Trust con nues to develop I have every confi dence that its impact working with the community will con nue to grow.

He maru ahiahi kei muri te maru awatea, he paki ārohirohi kei mua.

A er the shades of darkness comes the dusk of dawn. Whilst before lies the shimmering glory of a fair day.

Ngā mihi nuiHayden Wano, Chair

“it has been a big year for the project, with standouts being the degree to which iwi, agencies, businesses, philanthropic organisations, and the Taranaki community have come together to tackle the biodiversity challenges that Taranaki Mounga is addressing. This is uniquely Taranaki, and something that we can collectively be proud of”Taranaki Mounga Team

CHAIR'S REPORT

2

2018 has been another very productive year for the Trust, with many developments on both an operational and philanthropic level.

GRANTS SUMMARYThe Trust’s philanthropic support of our region con nues to grow with $11.4 million in total grants paid out and commi ed this year, bringing our total contribu on to over $127 million since 1988.

CHILD AND YOUTH WELLBEING Our strategic priority of Child and Youth Wellbeing in a whānau context has been a key focus for the Trust. More than 50% of the grants made or commi ed this year have contributed in some way to improved Child and Youth Wellbeing.

COMMUNITY INVESTMENT AND FUNDING Over the past year we have con nued to implement our Community Investment and Funding Strategy introduced in April 2017. At its core is our Funding Framework – you can see this framework on page 6 of this report.

At its base, our Community Funding supports the fabric of our communi es by suppor ng the diverse array of ac vi es that keep our community humming.

This year we have been very ac vely engaged in Strategic Philanthropy, working more strategically and forming partnerships with community organisa ons to achieve our mutual goals and priori es.

We have con nued our commitment to the Taranaki Mounga Project to restore ecological diversity on Mounga Taranaki in partnership with DOC, NEXT Founda on, Shell NZ and Iwi.

In December 2017 a Memorandum of Understanding was signed with Taranaki organisa on Te Pou Tiringa, to explore ways to improve child and whānau wellbeing in the region. We also formed a partnership with Paren ng Place, an innova ve organisa on focused on strengthening parents.

It is heartening to see some of the results being achieved by community partners such as START Taranaki who are busy suppor ng young men to gain life-changing opportuni es.

During this fi nancial year we also con nued exploring our Innova ve Philanthropy, using design thinking to explore with local communi es how we can work together to build family wellbeing.

You can read more about some of these groups and projects on pages 6-10 of this report.

EFFECTIVE ORGANISATION2018 has been a produc ve year for Trust opera ons with several developments taking place including the appointment of two new posi ons to the Trust’s Leadership Team early in 2018.

This will have a signifi cant impact on the Trust’s ability to plan and implement its strategies at an opera onal and strategic level.

Recognising the importance of working with Māori, in 2017 we introduced a new strategy to guide our rela onships and engagement with Iwi and the Māori community. In March 2018 the Trust signed a rela onship agreement with Te Kotahitanga o Te A awa Trust, our fi rst formal iwi partnership under this strategy. It is hoped that further partnerships will follow.

Meanwhile the Trust con nues to increase its engagement with communi es and organisa ons. Our very able Grants Team work with applicants with the aim of assis ng them to get the best outcome possible for their organisa on.

ACKNOWLEDGEMENTSFirstly I would like to acknowledge all the volunteers and community workers that help to make Taranaki the rich and vibrant region that it is. Without these people the Trust would not be able to have the impact in our community that we do. So, this is a big thank you from the Trust to all of you.

And last but by no means least a huge thank you to the TSB Community Trust team of staff , a group of individuals that are passionate about our place and all those that live here.

He tautuku aroha tēnei ki ngā kaimahi katoa e whakapau werawera ana ki ngā ni kaupapa huri noa i te mounga. Mei kore ake koutou, e kore rawa e pēnei te kaha o ngā hapori o tō tātou rohe. Mei kore ake koutou, e kore hoki e o ngā mahi o te TSB Community Trust i roto i a koutou. Heo anō te kōrero, tēnā rawa atu koutou.

Waihoki, e whakamanawa ana i ngā kaimahi katoa o te whare o TSB Community Trust, kātahi te rōpū pukumahi ko koutou, he ma e ngākaunui ana ki tō tātou rohe me te hunga e noho nei ki ngā rekereke o tō tātou koroheke tapu. Kei te mihi.

Ngā mihiMaria Ramsay, Chief Execu ve

“thank you for believing in what we do and helping us to impact the lives of taranaki secondary school students. we are incredibly grateful for the ongoing support we receive from the tsb community trust.”philip keenan - tsssa chairman

CHIEF EXECUTIVE’S REPORT

3

TARANAKI people; proud AND resilient, people of the land and all corners of the earth, woven together, supporting each other, united in community.Together we are stronger, positivity, opportunity, creativity; these are the gifts of our ancestors, for here UNDER our mounga, anything may be possible.

Maria Ramsay Danae Etches Leighton Li lewood Dion Maaka Keri Wanoa Chief Executi ve Strategy and Funding and Finance, Risk and Manutaki Whai Research Leader Facilitati on Leader Group Strategy Leader Hua Māori

Tania Pirini Kathryn Grant Kapoi Mathieson Sarah Birchler Zoe Taylor PA / Board Support Senior Grants and Matatuhi Pūtea - Operati ons and Team Support Programme Advisor Grants Advisor Informati on Advisor and Grants Advisor

Ainsley Luscombe Te Aroha Hohaia Robin Brockie Guy Roper Peter Dalziel Trustee Trustee Trustee Trustee Trustee

Hayden Wano Harvey Dunlop Kelly Marriner Jenny Gellen Keryn Broughton Chair Deputy Chair Trustee Trustee Trustee

OUR journey

OUR PEOPLE - TRUSTEES

OUR PEOPLE - staff

4

ASSET INVESTMENT

strategic overview

EFFECTIVE ORGANISATION

Controlling interest

TSB COMMUNITY TRUST ASSET STRUCTUREThe Trust continues to grow in its role as a responsible shareholder, asset owner and investor.

The 2018 fi nancial year was a landmark year for the Trust – in August 2017 the Trust’s Investment Manager, TSB Group Ltd, gained a controlling interest in Fisher Funds Management Limited (FFML) through its subsidiary companies.

As a result, the Trust is now an owner and shareholder of two major commercial assets, 100% of TSB Bank Ltd and 75% of Fisher Funds Management Limited, as per the asset structure on the right.

In the years to come the dividends that TSB Group Ltd receive from both TSB and Fisher Funds will result in increased support for Taranaki and its people.

We always look for ways to improve the way we work and over the past year we have con nued to explore and implement technology to support our work and improve our grantees' experiences.

The past 12 months has seen con nuing review of our online applica on portal with improvements applied. During the development process we have tested changes on real users, to make sure these were eff ec ve.

We have also con nued to keep our Core Values central to our work. Over the past year we have regularly refl ected on these to ensure we live up to them as an organisa on.

C O R E VA L U E S

AN EFFECTIVE ORGANISATIONWe will support this with appropriate resources, systems and communication

ASSET INVESTMENT

We will be an active and responsible asset owner, adopting investment strategies to sustain and grow our

assets for our people today and future generations.

OUR VISIONTo be a champion of positive opportunities and an agent of beneficial

change for Taranaki and its people now and in the future

Kia tū hei kaihāpai ki te whakatairanga i ngā kōwhiringa, ā, hei kaiwhakawhanake i ngā iwi o Taranaki ki ānamata

WITH A FOCUS ON CHILD AND YOUTH WELLBEING

COMMUNITY FOCUSEDRESULTS

INITIATIVECOMMITTED

INTEGRITY

COMMUNITY INVESTMENT & FUNDING

We are committed to helping our communities achieve their goals. We aim to do this through a proactive,

evidence based approach, investing in people and communities and facilitating

opportunities for positive change

S T R AT E G I C O V E R V I E W

5

The model below shows how we apply our Community Investment and Funding which includes our Community Funding, Strategic Philanthropy, Innovative Philanthropy and Impact Investing.

IMPACT INVESTING

Small number of projectsHigh engagement partnerships

High volume of

INNOVATIVE PHILANTHROPY

STRATEGIC PHILANTHROPY

COMMUNITY FUNDING

IMPACT INVESTINGAt the top er of our Funding Framework is ‘Impact Inves ng’. In New Zealand Impact Inves ng has been defi ned as “inves ng with the inten on of genera ng a measurable and benefi cial societal and/or environmental impact alongside a fi nancial return” Impact Investment Network NZ (2017).

Impact inves ng has been iden fi ed by the Trust as a mechanism with which to make social and/or fi nancial returns which will result in signifi cant impact within Taranaki. Over the past 12 months the Trust has been exploring Impact Inves ng models. The Trust intends to develop and test pilot a new Impact Inves ng framework in the coming year.

INNOVATIVE PHILANTHROPYThe next er down of our Funding Framework is ‘Innova ve Philanthropy’. This means exploring new opportuni es and trying new ways to work with and invest in communi es to help facilitate posi ve opportuni es and benefi cial change.

In 2018 we con nued to run Te Rau Matomato, a collabora ve project with Tui Ora and Iwi. This innova ve project uses co-design and design thinking in collabora on with local communi es. Through this project we are engaging with whānau from North Taranaki to explore how we can help to improve child wellbeing outcomes, with a focus on the early years.

The focus of innova ve philanthropy is thinking diff erently to achieve more – we are excited about the power of design thinking and co-design, to help us work more eff ec vely for and with our communi es.

Our Community Investment and Funding Framework

6

In 2017 the Trust provided a grant of $100,000 towards Wheelhouse ac vi es including con nued resourcing for a dedicated staff member. Marcia Millard, The Wheelhouse Manager, was appointed to the role in 2016.

In the past fi nancial year The Wheelhouse provided 35 trainings and workshops across Taranaki with over 600 a endances. Workshop topics have included governance, planning, fi nancial sustainability and core func ons such as marke ng.

Marcia said “It has been incredible to meet so many commi ed individuals from an array of organisa ons who are all working towards the same goal. They want to become stronger and more sustainable– who wouldn’t want to be part of that!"

Part of the role of The Wheelhouse Manager is to develop rela onships with key stakeholders to a ract events and opportuni es to Taranaki. In November 2017 when the Tonic Conference, a na onal conference for non-profi t organisa ons, was held in Taranaki, TSB Community Trust sponsored 40 Taranaki people to a end.

The nine collabora ve partners of The Wheelhouse are: TSB Community Trust, Bishop's Ac on Founda on, New Plymouth District Council, Stra ord District Council, South Taranaki District Council, Sport Taranaki, Department of Internal Aff airs, Te Puni Kōkiri, and Tui Ora.

For more informa on visit www.wheelhouse.org.nz

Growing the capacity and capability of Taranaki

community organisations - The Wheelhouse

The Wheelhouse is a successful collaborati ve partnership focused on supporti ng Taranaki community organisati ons and providing a single point of contact for Taranaki trusts, clubs, societi es and groups. The Wheelhouse website provides valuable access to a regional training calendar, access to funding sources, support, informati on, resources and much more.

On the right track - Start Taranaki

START Early is a youth wellbeing programme aimed at building trust, resilience, self-awareness and life skills of parti cipants through meaningful acti vity.

Based in Kaponga at START Taranaki, the programme and ac vi es take place throughout Taranaki and start with an isola on phase, involving two full weeks in the bush. Youth are in START’s care for three weeks, followed by four weeks intensive transi on support. Then there is up to a year of mentoring from the Youth Transi on Facilitator to keep things on track.

Neville Phillips established START Taranaki in 2003. Today the organisa on is a rac ng na onal a en on for its work and featured on a VICE NZ documentary earlier this year.

Piers Duncan, START Early's Project Manager, said that the organisa on does its best to respond to the needs of the youth – even if that is simply a hug at mes.

Neville said, “The a achments formed through trust and mutual respect between young people and staff are powerful”.

In 2017 the organisa on was able to run its START Early programme for a second year, with support from the TSB Community Trust, including a $100,000 programme grant, and $12,900 towards important equipment for the related Community Support Worker.

Another fi ne example of community collabora on, Piers said that “the work of START is only made possible thanks to the support and combined eff orts of the community”.

Strategic Philanthropy

"TOGETHER WE ARE STRONGER"

our strategic philanthropy focuses on supporting, facilitating and engaging in strategic relationships, partnerships and investments.

7

Partnering to Explore Lifelong Wellbeing - Te Pou Tiringa

As a community investor and funder keen to help make a lasti ng diff erence for child and youth wellbeing, understanding what is eff ecti ve to help improve whānau wellbeing is very important.

Parental Know How, Aroha and Relationships - Parenting Place

In 2017 TSB Community Trust began working closely with Parenti ng Place, a leading nati onal organisati on with a dream that Aotearoa be a place where every whānau thrives and every child feels deeply loved – a dream well aligned with our Trust Vision here in Taranaki.

In 2017 the Trust established a rela onship with Te Pou Tiringa, a leading Māori community organisa on. Both the Trust and Te Pou Tiringa share a vision of a healthy, vibrant and thriving Taranaki community.

Te Pou Tiringa is the governance body for Te Kōpae Piripono, an award-winning early childhood immersion centre in New Plymouth, which is also the base for a joint long-term research project with the Na onal Centre for Lifecourse Research (NCLR) at the University of Otago.

The long-term study aims to create learnings which will help people, including those working with young children, to be er understand what is eff ec ve for working with Māori children and whānau in Taranaki, and which may also be of benefi t to the wider community.

In December 2017 a Memorandum of Understanding was signed between the Trust and Te Pou Tiringa sta ng how we will work together. As part of the partnership the Trust granted a total of $889,995 towards establishing the research programme and work needed to secure a new home for Te Kōpae Piripono.

Chair of Te Pou Tiringa, Roena Ruakere-Te Uira said "The TSB Community Trust funding is enabling Te Pou Tiringa/Te Kōpae Piripono to work in a strategic way towards our long term vision, to make a tangible diff erence early in peoples' lives that will improve outcomes over the lifecourse and through genera ons. Ordinarily, funding for this type of ini a ve, for longer term goals, is very hard to secure. Our joint investment in future genera ons, we believe, will over me greatly benefi t our whānau and the wider Taranaki community."

"THESE ARE THE GIFTS OF OUR ANCESTORS"

Paren ng Place supports the restora on, strengthening, and building of fl ourishing rela onships through a range of programmes, courses and resources. These include Space for you and your baby, Toolbox paren ng, Building Awesome Whānau, A tude programmes in schools, Family Coaching, marriage and rela onship retreats, camps, na onwide events, and online content.

In 2017 the Trust commissioned Paren ng Place to carry out an explora on into community aspira ons in Waitara and possible collabora on opportuni es. A grant of $147,410 was paid towards programme development and delivery in Waitara.

“We are so excited to have been invited into the Waitara community to walk alongside whānau and are so grateful to TSB Community Trust for making this possible” said Paren ng Place’s Pouwhiringa, Te Waka McLeod.

Over the next 12 months they will be co-designing a Building Awesome Whānau paren ng course tailored to the needs of whānau, training local people to deliver it and other courses.

8

The Kaitake Ranges Conserva on Trust is a rela vely new organisa on achieving their goals with minimum resources and maximum perseverance. The group carry out pest eradica on and other ac vi es in the Kaitake area and off er a produc ve way for locals to make social connec ons.

In 2017 they received a grant of $4,700 to purchase track maintenance equipment, self-se ng traps and stoat traps. Taranaki Mounga and the Department of Conserva on also

assisted with training and support. The Trust used Apps to help monitor over 100 traps throughout the area.

The Trust’s Chair, Pete Morgan, said “The past 12 months hard work has paid off and the Trust has already been making an impact. We have removed over 300 stoats, ferrets or rats in the last three years with our 40 stoat traps. We believe we have already seen an increase in the bird life in our small ini al trapped area of the Kaitake Ranges.”

In March 2018 16,680 people converged on the TSB Bowl of Brooklands and environs to experience the WOMAD NZ fes val, made possible due to the support and collabora on of a diverse range of partners, including the TSB Community Trust.

The Trust provided funding of $138,000 towards bringing the event to Taranaki and to support the Community Programme which increased opportuni es for the community and especially young people, to share in the remarkable experiences WOMAD NZ has to off er.

The TSB Community Trust Cook Off is an annual highlight of the Community Programme. During the Cook Off teams of students

from Taranaki high schools were invited to cook a dish from one of the top 10 cuisines of the world. The compe on took place in the week leading up to WOMAD. The Cook Off winners created their dish at the fes val in front of a live audience. Hawera High School impressed the judges and took out fi rst prize.

Suzanne Porter, TAFT Chief Execu ve said “Taranaki is blessed to have the TSB Community Trust provide our region with access to grants that allow things to happen in Taranaki that just shouldn’t – and there can’t be a be er example than WOMAD! Thank you to all the Trustees and staff for your support since the fi rst presenta on in 2003. WOMAD would not be a successful major na onal event without this support”.

Locals getting it done - Kaitake Ranges Conservation Trust

A group of committ ed Kaitake community volunteers are working to improve predator control and biodiversity in the Kaitake ranges, while acti vely engaging the wider and local community.

Inspiring our next generation - WOMAD Nz

Every year WOMAD New Zealand brings Taranaki alive with a feast of music, dance, unique experiences and opportuniti es that would just not happen here in Taranaki without it.

OUR COMMUNITY FUNDING CONTRIBUTES TO SUPPORTING THE FABRIC OF OUR COMMUNITY. THE FOLLOWING PAGES FEATURE THE WORK OF JUST A FEW OF THE DIVERSE GROUPS TO RECEIVE COMMUNITY FUNDING IN the 2018 fi nancial year.

"PEOPLE OF THE LAND AND ALL CORNERS OF THE EARTH"

COMMUNITY FUNDING

9

"TARANAKI PEOPLE, PROUD AND RESILiENT"

Oceania Road Cycling Championships an Eye Opener - Lee Boon, Cyclist

In December 2017 Taranaki cyclist Lee Boon was selected for the New Zealand Oceania Road Cycling Under 19 Team. Lee received an Individual Grant of $1,500 to help her parti cipate.

Applica ons can be made by informal groups of locals for ac vi es such as small one-off events – e.g. a group of neighbours on a street ge ng together to host a BBQ everyone on the street can a end, or to carry out an ac vity such as crea ng a community garden.

Match funding is literally about ‘matching’ a contribu on made by the community with that of a funder. The contribu on must be of equal value. For example if the group of neighbours organising the

community garden put in volunteer me and supplies to the value of $100, the Trust could match it with $100 to cover other costs.

It may sound too good to be true – but it isn’t! It’s actually a great opportunity for local people to get together and do something very posi ve. Applica ons are considered by the Councils and the Trust on a case by case basis. Groups of neighbours with ideas for projects should contact their local Council to fi nd out more.

Building strong neighbourhoods -The Neighbourhood Match Fund

The Trust launched its new Neighbourhood Match Fund in 2017 in partnership with the Stratf ord, South Taranaki and New Plymouth District Councils. The fund encourages local people to become more connected through engaging in neighbourhood acti viti es.

“Learning about the selec on was very exci ng," said Lee. Being Lee’s second only experience racing in an U19 event, Lee said she felt "very nervous about what I was in for”. Even so Lee’s results were impressive - in the 16km Individual Time Trial Lee achieved 11th overall and fi nished 8th overall in the 60km road race. Upon returning Lee said that she “learnt a lot from the fi erce racing and was very pleased with my result and how I handled the race. The whole experience was very eye opening and I came home ready to train even harder to be as good as the older girls.

Receiving a grant from the TSB Comunity Trust was amazing as it helped me to get to the championships in Tasmania. This compe on had been a goal of mine for so long and being selected for the U19 Women's NZ Team was such an honour. I am so grateful of the TSB Comunity Trust for helping me to achieve this goal”. Well done Lee!

ON A MISSION TO BUILD A safer COMMUNITY

South Taranaki Neighbourhood Support is on a mission to make South Taranaki a safer and more caring place. The proacti ve community organisati on aims to reduce crime and its eff ects in the area and educate their members to become self-suffi cient in ti mes of emergency and disaster.

Over the past year the organisa on has been working hard to meet their aims to develop more caring and safer South Taranaki communi es. In 2017 when the organisa on received a grant of $15,000 towards a Development Co-ordinator salary, the funds were well used to employ Co-ordinator Wendy Foreman, based at the Hawera Police Sta on.

When the group was established in 2016 it had around 25 members in Hawera. Their fi rst-year goal was to sign up 1,000 people. By

the end of March 2017 their membership had grown to include 265 households and 148 businesses - an es mated 795 individuals taking into account household numbers.

“Our next big drive is to bring on board as many people from Opunake/ Rahotu and surrounding areas” said Wendy. “We would like it to be the sort of thing that everyone wants to belong to eventually. You cannot beat people power” said Chair, Lionel Shaw.

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IMAGE TOP: Te Pou Tiringa Chair Roena Ruakere-TeUira and TSB Community Trust Chair Hayden Wano at the MoU signing in 2017. Photo credit: Pip Guthrie; IMAGE BELOW LEFT: TSB Community Trust WOMAD Cook-Off Winners at WOMAD 2018 – Hawera High School with Jax Hamilton. Photo credit: Clay Drummond; IMAGE BELOW RIGHT: Taranaki cyclist Lee Boon represented New Zealand in the U19 Team at the Oceania Road Championships held in Tasmania in March 2018.

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$9,887,334Total grants paid excluding returned grants and including grants commi ed in prior years

Over $127mTotal grants The Trust has contributed over $127m to benefi t the Taranaki community since 1988.

95% Of all applications received in 2018 were online applica ons

758 Total number of grants commi ed for 2017-2018

literacy and numeracy

13,443Primary and Intermediate school students had skills boosted by 79 Literacy and Numeracy Grants

Total Granted $812,280

GRANTING ACTIVITIES 2017-2018

CHILD AND YOUTH WELLBEING

$1,830,762

$8,056,572

$1,531,795

750 attendances at capability building eventsThe Trust has subsidised the delivery of community training workshops with over 750a endances in topics from:

• Governance

• Strategic & Project Planning

• Financial Essen als

• Obtaining Sponsorship

• Fraud & Financial Mismanagement

• Volunteer Rights & Responsibili es

• Employment Agreements

• Using Social Media

• How to be an Eff ec ve Chair.

101 timesThe Trust's mee ng rooms were booked by community groups 101 mes in the past year

WHAT WE FUNDED

Total condi onal grants from previous years paid out in 2018

Total new grants paid out in 2018

Total condi onal grants in 2018, yet to be paid

GRANTING ACTIVITIES 2018

Our funding recognises the huge contribution made by Taranaki people and not for profi t community organisations for the benefi t of our region. These pages summarise our grants over the past year.

In the 2018 fi nancial year the Trust committed a total of $9,588,367 in grants to Taranaki community organisations and activities.As well as new grants, the Trust paid $ 1,830,762 for grants committ ed in prior years.

349 grants were made to Child and Youth Wellbeing activities

40 Grants were made to ac vi es with an Early Years focus

Over the past year we’ve funded a wide range of activities across the region.

109

109$123,500Individual

Grants

$812,280Literacy & Numeracy

Grants

315

$3,904,265Programme

& EventGrants

$1,484,832Projects & Capability

Building Grants

125

$2,686,690Capital Grants

79

$576,800Opera onal

Grants

21

Total Granted $7,027,045

Other Child and Youth

$5,000,653

Early Years $2,026,392

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TSB COMMUNITY TRUST, GRANTS 2017 2018

CAPITAL GRANTS Arts, Culture and Heritage Everybody's Theatre Trust 30,000.00 Hawera Memorial Theatre Friends Trust 28,000.00 Hawera Savage Club 5,000.00 Manukorihi Pa Reserve Trust 45,000.00 Ohounuku Reserve Trust - Tawhi nui Marae 50,000.00 Performing Arts Collec ve Inc 4,000.00 Whakaahurangi Marae Inc 42,500.00 Community Wellbeing Access Radio Taranaki Trust 60,000.00 Catholic Parish of New Plymouth 30,000.00 Central Taranaki Safe Community Trust 20,000.00 Ci zens Advice Bureau New Plymouth Inc 10,000.00 Mahia Mai A Whai-Tara Trust 20,000.00 New Plymouth Group Riding for the Disabled 10,000.00 NPDC - Jubilee Skate Park 60,000.00 NPDC - Oakura Skate Park 50,000.00 Omata Community & School Hall Society Inc 4,500.00 Republic of Whangamomona Society 22,500.00 S.T.A.R.T. Taranaki 12,900.00 SDC - 3D Printer 3,500.00 SDC - Pool Equipment 10,000.00 South Taranaki Blue Light 16,700.00 STDC - Pathways for People: Normanby to Hawera 100,000.00 Stra ord Bap st Church 10,000.00 Tarata Hall Inc 11,400.00 Environment Kaitake Ranges Conserva on Trust 4,700.00 Health and Rescue Services Cancer Society of NZ Taranaki Centre 40,000.00 Coastguard - na onwide applica on 20,000.00 New Plymouth Old Boys Swimming and Surf Club 30,000.00 St John Hawera 50,000.00 Taranaki Air Patrol Inc 2,300.00 Tui Ora Ltd 50,000.00 Learning Auroa School 21,600.00 Bell Block Kindergarten 13,200.00 Bell Block Playgroup Inc Society 7,500.00 Central School 25,000.00 Conduc ve Educa on Taranaki Trust 19,000.00 Devon Kindergarten 40,000.00 Fitzroy Free Kindergarten 10,000.00 Fitzroy School 20,300.00 Inglewood High School 77,600.00 Kaimata School 34,560.00 Kaitake Kindergarten 30,000.00 Kaponga Primary School 15,000.00 Koru Kindergarten 35,900.00 Lepperton School 40,000.00 Manukorihi Intermediate School 29,000.00 Marco School 22,843.00 Merrilands School 15,000.00 Mokoia School 8,000.00 New Plymouth Astronomical Society 39,800.00 New Plymouth Boys' High School 75,700.00 Nga Pekanga Te Kohanga Reo 13,000.00 Omata School 30,000.00 Opunake Playcentre 15,200.00 Outward Bound - na onwide applica on 4,000.00 Rahotu Playcentre 5,892.00 Ratapiko School 10,000.00 St Pius X 15,000.00 Taranaki Outdoor Pursuits & Education Centre 161,000.00 Toko Playcentre 30,000.00 Waitara East School 18,300.00 Waitara Playcentre 15,000.00

Recrea on and Sport Arahi Netball Club 1,000.00 Athle cs Hawera Inc 24,000.00 Cape Egmont Boat Club 10,000.00 Central Division Indoor Bowls Inc 14,000.00 Coastal Cobras Rugby League & Sports Club Inc 10,000.00 Egmont Rod & Custom Club Inc 10,000.00 FC Western Inc 50,000.00 Greenwood Archers Inc 5,000.00 Gymnas cs Waitara Inc 19,300.00 Hawera Aero Club Inc 13,000.00 Hawera Golf Club Inc 6,500.00 Hawera United Cricket Club Inc 30,000.00 Inglewood Bowling Club Inc 25,000.00 Inglewood Squash Rackets Club Inc 9,700.00 Inglewood United Rugby Football Club 2,000.00 Kaimata-Waitui Districts Hall 5,000.00 Midhirst Public Hall Commi ee 20,000.00 New Plymouth & Districts RSA Inc 33,940.00 New Plymouth BMX Club 10,660.00 New Plymouth Contract Bridge Club Inc 4,000.00 New Plymouth Croquet Club Inc 1,300.00 New Plymouth Mountain Bikers 60,000.00 New Plymouth Rollersports Club 50,000.00 Normanby Okaiawa Knights Rugby League & Sports Inc 12,000.00

Oakura Bowling and Social Club Inc 13,000.00 Oakura Pony Club 2,000.00 Oaonui Hall Commi ee 20,000.00 Okaiawa Rugby Football Club 5,000.00 Okato Lawn Tennis Club Inc 2,900.00 Okoki Outdoor Educa on Centre Trust 65,000.00 Orienteering Taranaki 10,000.00 Otaikokako Waka Ama ki Taranaki 20,600.00 Pembroke Hall Society Inc 30,000.00 Stra ord & Eltham Rugby Sports Club 10,000.00 Stra ord Badminton Club 1,200.00 Stra ord Golf Club Inc 10,000.00 Stra ord Mountain Club Inc 27,000.00 Swimming Taranaki Inc 4,800.00 Taranaki Alpine Club 50,000.00 Taranaki Caravan Club 950.00 Taranaki Darts Assn 10,800.00 The Disabled Ci zens Society Taranaki Inc 10,000.00 The Girl Guides Assn New Zealand Inc 2,000.00 Vintage Car Club of NZ Taranaki Branch Inc 2,000.00

Capital Grants Total 2,523,929.91

INDIVIDUAL GRANTS Arts, Culture and Heritage Andrew Wood - Brass Band 50 0.0 0 Daniel Chow - Brass Band 500.00 Learning Aus n Pollard - Robo cs 500.00 Bailey Mckay - Robo cs 500.00 Conor Eager - Robo cs 500.00 Estella Van Der Lee - Young Shakespeare Company 50 0.0 0 Gregor Forrest - Future Problem Solving 1,500.00 Jakob Erb - Future Problem Solving 1,500.00 Marco Kraayenhof - Robo cs 1,500.00 Quinn Scouller - Future Problem Solving 1,500.00 Samuel James - Future Problem Solving 1,500.00 Recrea on and Sport Abbie Deken - Dressage 500.00 Agnes Kimura - Snooker 1,500.00 Alan Bunning - Hockey 750.00 Andrew Wood - Brass Band 500.00 Angela Caldwell - Taekwondo 1,500.00 Ashleigh Benne - Athle cs 1,500.00 Ben McCallum - Canoe Sprint 1,500.00 Boston Kerry Marihia Falaniko - Indoor Netball 750.00 Brent Simpson - Mountain Bike Orienteering 1,500.00 Bronte Gorham - Indoor Netball 1,500.00 Brooke Puletaha - Indoor Netball 1,500.00 Brooke Reid - Squash 500.00 Caitlin O'Connell - Basketball 500.00 Caius Owen - Indoor Netball 1,500.00 Cameron Burnell - Football 1,500.00 Casey Stevens - Kneeboard Surfi ng 750.00 Cassidy Pringle - Indoor Netball 1,500.00 Charlo e Webby - Swimming 1,500.00 Corbin Porteous - Rowing 1,500.00 Cory Bedford - Roller Hockey 1,500.00 Dakota Rosser - Inline Hockey 750.00 Daniel Reason - Inline Hockey 1,500.00 Denis Leatham - Yach ng 1,500.00 Dylan Taylor - Catamaran 1,500.00 Ella Toa - Rowing 1,500.00 Ellie Hurley-Langton - Athle cs 1,500.00 Elliot Stevens - Kneeboard Surfi ng 1,500.00 Eloise Stevens - Kneeboard Surfi ng 750.00 Finn Whalen - Touch Rugby 250.00 Georgina Kydd - Triathlon 750.00 Glenn Reynolds - Indoor Cricket 750.00 Grace Washer - Roller Ska ng 1,500.00 Grant L'ami - Indoor Bowls 1,500.00 Hannah Maree Baker - Canoe Sprint 1,500.00 Hannah O'Connor - Athle cs 1,500.00 Hope Ralph - Hockey 500.00 Ian Clark - Triathlon 1,500.00 Isaac Burton - Cycling 1,500.00 Jacob Rapira - Boxing Coaching 1,500.00 Janelle Knap - Indoor Netball 1,500.00 Javon McCallum - Surf Lifesaving 1,500.00 Jessica-Lee Hoskin - Indoor Netball 1,500.00 Jordan Riddick - BMX 500.00 Jorja Rosser - Inline Hockey 750.00 Jorja Simpson - Mountain Bike Orienteering 1,500.00 Joshua Kingi - Inline Hockey 750.00 Julia Phillips - Kneeboard Surfi ng 1,500.00 Julian Weir - Swimming 1,500.00 Karli Haugh - Triathlon 750.00 Keegan Joe - Beach Volleyball 1,500.00 Kelston Reynolds - Indoor Netball 1,500.00 Kelvin Weir - Kneeboard Surfi ng 1,500.00 Lee Boon - Cycling 1,500.00 Levi Rewe - Touch Rugby 250.00 Liam Moore - Football 500.00 Libby Houghton - Beach Volleyball 500.00 Ludovic Galliegue - Handball Coaching 250.00 Lukas Halls - Rugby League 750.00 Luke Duthie - Radio Control Cars 750.00 Manawa McLaughlin - Rowing 500.00 Mario Hildred - Snooker 1,500.00 Mathew Dickey - Show Jumping 500.00 Ma hew Furze - Frisbee 1,500.00

Ma hew Jones - Rock Climbing 1,500.00 Ma hew O'Connell - Basketball 500.00 Max Ewing - Inline Hockey 750.00 Max Gordon - Triathlon 1,500.00 Maya Dickson - Beach Volleyball 1,500.00 Michele Lace - Hockey 750.00 Michelle O'Doherty - Roller Ska ng 1,500.00 Morgan Tro - Basketball 1,500.00 Murray Mar n - Golf 1,500.00 Nicala Ward-Allen - Tree Climbing 1,500.00 Nicole Benne - Athle cs 1,500.00 Oscar Robertson - Basketball 500.00 Owen Smith - Football 1,500.00 Parris Libby May Mason - Basketball 500.00 Riley Tuuta - Basketball 500.00 Rohan Singh - Roller Hockey 1,500.00 Ryan King - Snooker 1,500.00 Samuel Plant - Inline Hockey 750.00 Sasha Reid - Swimming 500.00 Sco Hodges - Sailing 1,500.00 Shaun Campbell - Triathlon 1,500.00 Slade Te Mana Bristowe - Touch Rugby 500.00 Sophie Fenwick - Indoor Netball 1,500.00 Sophie Riddick - BMX 500.00 Stephen Hills - Para Cycling 1,500.00 Steven Collingwood - Touch Rugby 500.00 Stuart Taylor - Catamaran 1,500.00 Tayla Manning - Climbing 1,500.00 Tayla Simpson - Mountain Bike Orienteering 1,500.00 Tegan Bunyan - Beach Volleyball 500.00 Thomas Spencer - Mountain Bike Orienteering 1,500.00 Tyla Sharock-Maifea - Indoor Netball 1,500.00 Xian Jian Chew - Sailing 1,500.00 Zac Reid - Swimming 1,500.00 Zoe Hobbs - Athle cs 1,500.00

Individual Grants Total 123,500.00

LITERACY & NUMERACY GRANTS Ahi School 1,500.00 Auroa School 11,700.00 Avon School 3,600.00 Bell Block School 25,320.00 Central School 19,920.00 Coastal Taranaki School 11,820.00 Devon Intermediate 18,840.00 Egmont Village School 7,860.00 Eltham School 9,000.00 Fitzroy School 25,860.00 Francis Douglas Memorial College 10,980.00 Frankley School 13,320.00 Hawera Chris an School 1,740.00 Hawera Intermediate 17,100.00 Hawera Primary School 10,500.00 Highlands Intermediate School 40,140.00 Huiakama School 1,500.00 Huirangi Primary School 6,060.00 Inglewood Primary School 17,460.00 Kaimata School 7,020.00 Kaponga Primary School 6,660.00 Lepperton School 9,840.00 Makahu School 1,500.00 Manaia Primary School 7,560.00 Mangorei School 20,280.00 Manukorihi Intermediate School 12,000.00 Marco School 1,500.00 Marfell School 6,360.00 Matapu School 5,940.00 Merrilands School 11,640.00 Midhirst School 6,000.00 Mimi School 2,280.00 Mokau School 1,500.00 Mokoia School 1,500.00 Moturoa School 6,120.00 New Plymouth Adven st Chris an School 1,500.00 Ngaere School 8,640.00 Norfolk School 9,660.00 Normanby School 9,780.00 Oakura School 20,400.00 Omata School 9,720.00 Opunake Primary School 11,100.00 Pembroke School 3,780.00 Puketapu School 16,980.00 Rahotu Primary School 9,900.00 Ramanui School 4,020.00 Ratapiko School 1,500.00 Rawhi roa School 2,580.00 Sacred Heart Girls' College 11,640.00 Spotswood Primary School 17,940.00 St John Bosco School 15,540.00 St Joseph's Primary School - Opunake 6,660.00 St Joseph's School - New Plymouth 16,980.00 St Joseph's School - Hawera 16,680.00 St Joseph's School - Stra ord 13,980.00 St Joseph's School - Waitara 7,200.00 St Patrick's School - Inglewood 5,280.00 St Patrick's School - Kaponga 1,500.00 St Pius X 8,760.00 Stra ord Primary School 23,820.00 Tawhi School 18,480.00 Te Kura Kaupapa Māori o Ngā Ruanui 3,420.00

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Te Kura Kaupapa Māori o Tamarongo 1,500.00 Te Kura o Ngāruahinerangi 1,860.00 Te Pi'ipi'inga Kākano Mai i Rangiātea 4,860.00 Tikorangi School 10,020.00 Toko School 8,940.00 Turuturu School 13,020.00 Urenui School 4,260.00 Uru School 1,500.00 Vogeltown School 20,820.00 Waitara Central School 5,880.00 Waitara East School 16,020.00 Waitoriki School 1,500.00 Welbourn School 23,580.00 West End School 21,600.00 Westmount School 4,320.00 Westown School 7,980.00 Woodleigh School 25,260.00

Literacy & Numeracy Grants Total 812,280.00

MATCH FUNDING GRANTS STDC - End of Season Celebra on Oaonui 550.00

Match Funding Grants Total 550.00

OPERATIONAL GRANTS Arts, Culture and Heritage Ars Nova Choir Inc 500.00 City of New Plymouth Caledonian Pipe Band 400.00 Gilbert-Smith Dance Trust 1,400.00 Heritage Taranaki Inc 500.00 Living Harmony Choir 400.00 New Plymouth Floral Art Club 500.00 Nga Haua Sub 16 (Taikatu / Okare Marae) 2,400.00 Ngā Manuhiakai 9 Reserva on (Te Aroha Marae) 2,400.00 NZ Founders Society Inc - Taranaki Branch 500.00 NZ Society of Genealogists - New Plymouth Branch 50 0.0 0 Oeo Pa 2,400.00 Ohounuku Reserve Trust - Tawhi nui Marae 2,400.00 Okato & District Historical Society Inc 500.00 Ōrimupiko 12 Part Māori Reserva on Trust 2,400.00 Performing Arts Collec ve Inc 1,400.00 South Taranaki Art Gallery & Exhibi ons Inc 500.00 South Taranaki S tchcra Guild 400.00 Stra ord and District Sco sh Society 400.00 Stra ord Floral Art Group 400.00 Stra ord Hospital Museum Inc 500.00 Taranaki Avia on Transport & Technology Museum Inc 500.00 Taranaki Branch of the NZ Antique & Historical Arms Assn 50 0.0 0 Taranaki Children's Choir 400.00 Taranaki Jazz Club Inc 1,000.00 Taranaki Primary Schools Cultural Fes val 500.00 Taranaki Regional Branch of NZ Choral Federation 1,400.00 Taranaki Swiss Social Club Inc 500.00 Taranaki Welsh 500.00 Te Reo o Taranaki Charitable Trust 9,000.00 Waiokura Marae & Reserves Trust 2,400.00 Waitara Community Art & Cra Centre Inc 500.00 Community Wellbeing Alzheimers Taranaki Inc 9,000.00 Bell Block Senior Ci zens Friendship Club 600.00 Catholic Womens League New Plymouth 600.00 CCS Disability Ac on North Taranaki Inc 7,000.00 Central Taranaki Riding for the Disabled 1,200.00 Central Taranaki Safe Community Trust 3,000.00 Disabled Persons Assembly (DPA) Taranaki Region 50 0.0 0 Eltham Community Care Group 2,000.00 Eltham Community Development Group 500.00 Families Overcoming Addic on 500.00 Fi ies Forward Club 600.00 Friends of Manaia - Hoa o Manaia 500.00 Habitat for Humanity Taranaki 7,000.00 Hawera Budget Advisory Service Inc 4,000.00 Hawera Foodbank 3,000.00 Hawera Group Riding for Disabled Inc 1,200.00 Ladies Friendship Club of Merrilands 600.00 Manna Healing Centre Trust 7,000.00 Mental Wellness Peer Support 500.00 New Plymouth Budget Advisory Service 7,000.00 New Plymouth Community Foodbank Trust 2005 8,000.00 New Plymouth Posi ve Ageing Trust 1,000.00 New Plymouth Stroke Support Trust 600.00 Northpoint Bap st Church 500.00 New Zealand Red Cross Hawera Branch 1,200.00 Parents of Deaf Children (Taranaki) Inc 400.00 Rise: Stopping Violence Services 3,000.00 SANDS New Plymouth 600.00 South Taranaki Passenger Services Inc 750.00 South Taranaki Women's Centre 4,000.00 St Andrews Presbyterian Church 500.00 Stra ord Community Foodbank Society Inc 2,000.00 Stra ord Community House Trust 3,000.00 Stra ord Parents Centre 1,000.00 Taranaki Community Law Trust 9,000.00 Taranaki Federated Farmers 6,000.00 Taranaki FM Trust 30,000.00 Taranaki Womens Refuge 7,000.00 Tarata Community Church 500.00 Te Ara Pae Trust 6,000.00 The Kai Kitchen Trust 1,500.00 The South Taranaki Justices of the Peace Assn Inc 1,000.00

Together Grow Be er Communi es Trust 500.00 Waitara Foodbank-Kai Potaka 3,000.00 Women's Centre New Plymouth Inc 5,000.00 Zipper Cardiac Support Club Taranaki Branch 500.00 Environment Friends of Pukekura Park New Plymouth Inc 800.00 Rapanui Grey Faced Petrel Trust 500.00 Health and Rescue Services Coastal Taranaki Health Trust 4,000.00 East End Surf Lifesaving Club 2,500.00 Hospice Taranaki Inc 100,000.00 New Plymouth Old Boys Swimming and Surf Club 2,500.00 Pregnancy Help Inc - Taranaki Branch 9,000.00 Taranaki Air Ambulance Trust 9,000.00 Taranaki Air Patrol Inc 2,500.00 Taranaki Alpine and Cliff Rescue 2,500.00 Taranaki Volunteer Coastguard Service Inc 2,500.00 Learning Ac ve Birth Taranaki Inc 1,400.00 Ahi School 2,100.00 Bell Block School 3,350.00 Brooklands Kindergarten 1,000.00 Coastal Taranaki School 4,200.00 Devon Kindergarten 1,000.00 Fitzroy Free Kindergarten 1,000.00 Fitzroy School 3,350.00 Hawera Chris an School 2,350.00 Hawera High School 5,700.00 Hawera Kindergarten 1,000.00 Highlands Intermediate School 3,800.00 Kahikatea Kindergarten 1,000.00 Kaimata School 2,350.00 Kiddylandz Toy Library 400.00 Manukorihi Intermediate School 2,800.00 Marfell School 2,350.00 Matapu School 2,350.00 Merrilands School 2,600.00 Midhirst School 2,350.00 Mokoia School 2,100.00 Moturoa School 2,350.00 Naumai South Taranaki Toastmasters Club 400.00 New Plymouth Boys' High School 6,200.00 Ngā Pekanga Te Kohanga Reo 1,000.00 Ngamotu Breakfast Toastmasters 400.00 Ngamotu Kindergarten 1,000.00 Norfolk School 2,600.00 Opunake Communi es Kindergarten 1,000.00 Opunake High School 4,700.00 Opunake Primary School 2,600.00 Orapa Kindergarten 1,000.00 Pukekura Free Kindergarten 1,000.00 Ratapiko School 2,100.00 SeniorNet Hawera Inc 600.00 SeniorNet New Plymouth Inc 600.00 South Taranaki Parents Centre 1,000.00 St Joseph's School Hawera 2,850.00 St Joseph's School New Plymouth 2,850.00 St Patrick's School Inglewood 2,350.00 St Pius X 2,600.00 Stra ord Community Childcare 600.00 Stra ord High School Board of Trustees 5,200.00 Taranaki Adult Literacy Services 800.00 Taranaki Farm Training Assn Inc 500.00 Taranaki Science & Technology Fair 5,000.00 Taranaki Toy Library 800.00 Te Wera Outdoor Recrea onal Trust 3,000.00 Toko School 2,600.00 Uru School 2,100.00 Waitara High School 4,700.00 Welbourn School 3,100.00 West End School 2,850.00 Westown Free Kindergarten 1,000.00 Woodleigh School 3,350.00 Recrea on and Sport Ac ve in Age - New Plymouth 800.00 Aquabladz Swimming Club 800.00 Arahi Netball Club 600.00 Auroa Community Pool 500.00 Auroa Soldiers Memorial Hall 500.00 Bell Block Ladies Badminton 400.00 Bosco East End Indoor Bowling Club 400.00 Bowls Paritutu Inc 800.00 Central District Deaf Lawn Bowls Club 400.00 Central Division Indoor Bowls Inc 1,800.00 Central Table Tennis Club 400.00 Central Taranaki Embroiderers Guild 400.00 Central Taranaki Indoor Bowls Assn 600.00 Coastal Cobras Rugby League & Sports Club Inc 60 0.0 0 Combined Club of New Plymouth 800.00 Country Women's Tarata 400.00 Dynamite Bay - Stra ord 500.00 Eltham Assn Football Club 800.00 Eltham Golf Club Inc 600.00 Fi y Forwards Social Club - Ten Pin 600.00 Fitzroy Friendship Club 600.00 Fitzroy Golf Club Inc 1,400.00 Fitzroy Senior Ci zens Assn Inc 400.00 Frankleigh Star Indoor Bowling Club 500.00 Fuchsia 2000 Club 400.00 Gymnas ca Gym Club Inc 1,400.00

Hawera Camera Club 400.00 Hawera Contract Bridge Club Inc 800.00 Hawera Croquet Club Inc 500.00 Hawera Hor cultural Society 500.00 Hawera Ladies Friendship Club 600.00 Hawera Men's Friendship Club 600.00 Hawera Rugby League & Sports Club (Hawks) 600.00 Highlands Amateur Swimming Club 1,400.00 Hillsborough Indoor Bowls 500.00 Huinga Hall Society Inc 500.00 Inglewood & Districts Floral Art Group 400.00 Inglewood Croquet Club 400.00 Inglewood Division Indoor Bowls 600.00 Inglewood Golf Club Inc 1,800.00 Inglewood Squash Rackets Club Inc 800.00 Inglewood Trefoil Guild 400.00 Kaitake Golf Club 1,400.00 Kaponga Rugby Football Club 800.00 Kawaroa Park Squash Club Inc 1,800.00 Knox Indoor Bowling Club 400.00 Lepperton Bowling Club Inc 600.00 Lepperton Indoor Bowling Club 800.00 Local Handcra s Inc 400.00 Manaia Bowling Club 600.00 Mangaehu - Stra ord Sheep Dog Trial Club 500.00 Mangamahoe Indoor Bowling Club 1,000.00 Merrilands Indoor Bowling Club 500.00 Midhirst Combined Sports Club Inc 600.00 Midhirst Public Hall Commi ee 500.00 Midhirst Tennis Club Inc 500.00 Moturoa Associated Football & Sports Club Inc 80 0.0 0 New Plymouth Amateur Radio Club Inc 600.00 New Plymouth Bonsai Club Inc 400.00 New Plymouth Bowling Club Inc 800.00 New Plymouth Cake Decorators Guild 400.00 New Plymouth Contract Bridge Club Inc 1,400.00 New Plymouth Country Line Dancing 400.00 New Plymouth Crea ve Fibre 600.00 New Plymouth Croquet Club Inc 600.00 New Plymouth Harrier Club 600.00 New Plymouth High School Old Boys Cricket Club 1,400.00 New Plymouth Machine Kni ers Club 400.00 New Plymouth Master Swimmers 500.00 New Plymouth Model Aero Club Inc 600.00 New Plymouth Sco sh Country Dance Club 400.00 New Plymouth Square & Round Dance Club 400.00 New Plymouth Tramping Club Inc 1,400.00 New Plymouth Troopers Leisure Marchers 400.00 New Plymouth Yacht Club Inc 1,400.00 Norfolk Indoor Bowling Club 400.00 Normanby Amateur Athle c Club 800.00 Normanby Indoor Bowling Club 500.00 Normanby Okaiawa Knights Rugby League & Sports Inc 80 0.0 0 North Taranaki Branch of NZ Deerstalkers Assn 600.00 North Taranaki Jersey Ca le Club 500.00 North Taranaki Sport & Recrea on Inc 34,500.00 North Taranaki Table Tennis Assn 600.00 Northern Division North Taranaki Bowls Assn 600.00 Oakura Cricket Club 400.00 Oakura Indoor Bowling Club 500.00 Oakura Tennis Club Inc 800.00 Okaiawa Hall Society 500.00 Okato Squash Club 600.00 Opunake Community Baths Society Inc 500.00 Opunake Indoor Basketball Assn 800.00 Opunake Spor ng Shooters Inc 600.00 Otakeho Indoor Bowling Club 400.00 Park Croquet Club Inc 500.00 Pembroke Hall Society Inc 500.00 Pukekura Park Tennis Club 1,800.00 Raukura Netball Club Inc 600.00 Rawhi roa Hall Commi ee 500.00 Rerekapa Hut Supporters Inc 500.00 Rotokare Tennis Club 1,000.00 Royal New Zealand Naval Assn Taranaki Inc 600.00 Rural Women Toko 400.00 S.S.C. Flyers Swim Team 600.00 Sailability Taranaki Trust 2,000.00 Scout Assn of NZ Midhirst Scout Group 500.00 South Taranaki Croquet Assn Ltd 600.00 South Taranaki Indoor Bowls Assn 600.00 Southern Rugby Club 2,400.00 Spotswood Volleyball Club Inc 500.00 St James Indoor Bowling Club 400.00 Stra ord Associated Football Club 600.00 Stra ord Amateur Swimming Club Inc 600.00 Stra ord Badminton Club 400.00 Stra ord Bridge Club Inc 500.00 Stra ord Indoor Bowls 500.00 Stra ord Mountain Club Inc 2,400.00 Stra ord Tramping Club Inc 600.00 Stra ord Women's Club Inc 600.00 Taranaki Area Machine Kni ng Society 400.00 Taranaki Badminton Assn 2,000.00 Taranaki Bridge Congress Inc 400.00 Taranaki Caravan Club 600.00 Taranaki Cricket Assn Inc 6,000.00 Taranaki District Seniors' Golf Assn 1,000.00 Taranaki Dragons Inc 500.00 Taranaki Equestrian Network Inc 500.00 Taranaki Geological Society 600.00 Taranaki Golf Assn 6,000.00

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Taranaki Hockey Federa on Inc 6,000.00 Taranaki Indoor Bowls Centre Inc 1,000.00 Taranaki Lawnmower Racing Club Inc 400.00 Taranaki Morris Minor Club Inc 500.00 Taranaki Northern United Hockey Club Inc 600.00 Taranaki Provincial Fire Brigades Gold Star Assn 600.00 Taranaki Radio Control Car Club Inc 500.00 Taranaki Rugby Referees Assn 600.00 Taranaki Western Riding Club Inc 500.00 Tasman Bowls and Social Club Inc 800.00 Te Maunga Māori Bowls Taranaki 500.00 The Probus Club of Oakura 600.00 Tikorangi Community Centre 500.00 Tikorangi Indoor Bowling Club 400.00 Toko Assembly Hall Society 500.00 Tukapa Netabll Club 600.00 Tukapa Rugby & Sports Club Inc 2,400.00 Tumahu Hall Society Inc 500.00 Turuturu Presbyterian Indoor Bowling Club 500.00 Tyson's Netball Club Inc 800.00 Upper Mangorei Hall Society 500.00 Waimea Bowling Club 600.00 Waitara Badminton Club 500.00 Waitara District Veteran Golfers Society 500.00 Waitara Lawn Tennis Club Inc 500.00 Waitara Patchwork Group 400.00 Waitara Railway Preserva on Society Inc 500.00 Waitara Senior Ci zens Assn 500.00 Waitoitoi Memorial Hall 500.00 West End Table Tennis Club 500.00 Westend Croquet Club 500.00 Whiteley Indoor Bowling Club 400.00 Women's Ins tute - Durham 400.00 Women's Ins tute - Kaponga 400.00 Women's Ins tute - Lower Mangorei 400.00 Women's Ins tute - Maata 400.00 Women's Ins tute - Manaia 400.00 Women's Ins tute - Mangatoki 400.00 Women's Ins tute - New Plymouth Central 400.00 Women's Ins tute - Norfolk 400.00 Women's Ins tute - Rawhi roa 400.00 Women's Ins tute - Tikorangi 400.00 Women's Ins tute - Turuturu 500.00 Women's Ins tute - Waitara 400.00

Operati onal Grants Total 614,300.00

PROGRAMME AND EVENT GRANTS Arts, Culture and Heritage Arts Fes val Taranaki Charitable Trust 250,000.00 Baldrick's Big Day Out Commi ee 8,000.00 Christmas at the Bowl Trust 27,000.00 Classical Guitar Society of New Plymouth Inc 10,000.00 Dame Malvina Major Founda on - Taranaki Branch 120,000.00 Hawera Repertory Society Inc 10,000.00 Highland Dancing Assn of Taranaki 6,500.00 Intercreate Trust 20,000.00 Maori Women's Welfare League - Aotea Regional Council 3,000.00 Music Innova on Trust of Taranaki 73,500.00 New Plymouth City Band 5,300.00 New Plymouth Compe ons Society 5,000.00 New Plymouth Indian Community 5,000.00 New Plymouth Li le Theatre Society Inc 8,000.00 Parihaka Puanga Trust 6,000.00 Stra ord Art Society 4,000.00 Tainui Historical Society 20,000.00 Taranaki Art Review 5,000.00 Taranaki Arts Fes val Trust 40,000.00 Taranaki Arts Trail Inc 10,000.00 Taranaki Fashion Art Award Charitable Trust 10,000.00 Taranaki Harmony Chorus 2,600.00 Taranaki Mul Ethnic Council Inc 7,000.00 Taranaki Tū Mai 19,500.00 Te A awa Iwi Charitable Trust 15,000.00 Te Kupenga Stone Sculpture Society Inc 20,000.00 Te Ohu Atawhai o Taranaki Charitable Trust 16,000.00 Te Roopu Pukaaka Kapahaka Inc Society 5,000.00 Val Deakin Dance Theatre Trust 2,000.00 WOMAD NZ Charitable Trust 138,000.00 Community Wellbeing Access Radio Taranaki Trust 65,000.00 Big Brothers Big Sisters of Taranaki Charitable Trust 110,000.00 Great Fathers Trust 100,000.00 Migrant Connections Taranaki (MCT) Charitable Trust 10,000.00 New Plymouth Group Riding for the Disabled 10,000.00 North Taranaki Blue Light Ventures 22,000.00 North Taranaki Neighbourhood Support Trust 20,000.00 NPDC - Fes val of Lights 110,000.00 NPDC - Puke Ariki - Language Revitalisa on 3,605.00 NPDC - Puke Ariki Temporary Exhibi ons 49,000.00 NPDC - Skycity Breakers Basketball 7,000.00 NPDC - Waitangi Day Event 5,000.00 Prisoners Aid & Rehabilita on Society 12,000.00 S.T.A.R.T. Taranaki 100,000.00SDC - Percy Thomson Gallery Exhibi ons 25,000.00SDC - Summer Nights 18,000.00SDC - Youth Council Events 3,000.00South Taranaki Neighbourhood Support 15,000.00 STDC - Summer Sounds 2017 14,000.00STDC - Swim & Survive Programme 16,000.00STDC - Winter Events 2018-2020 10,000.00

Suppor ng Families in Mental Illness Taranaki 98,613.00 Taranaki Anglican Trust Board 80,000.00 Taranaki Chamber of Commerce 24,900.00 Taranaki Ostomy Society 2,500.00 Taranaki Retreat Trust 37,000.00 Taranaki Timebank 20,000.00 Te Puna Trust 196,000.00 Te Reo Irirangi o Taranaki Charitable Trust 15,000.00 The Bishop's Ac on Founda on 200,000.00 Waitara Ini a ves Suppor ng Employment - WISE 95,000.00 Whaka puranga Rima Rau 200,000.00 Environment East Taranaki Environment Trust 50,000.00 Project Litefoot Trust 18,000.00 Taranaki Mounga Project 400,000.00 Tiaki Te Mauri o Parininihi Trust 31,000.00 Health and Rescue Services Tui Ora Ltd 75,000.00 Learning Conduc ve Educa on Taranaki Trust 44,000.00 Devon Intermediate 29,375.00 Hawera Primary School 5,000.00 Kindergarten Taranaki 27,000.00New Horizons Aotearoa 32,000.00 New Plymouth Girls' High School 38,000.00 New Plymouth Montessori Assn Inc 2,000.00 Taranaki Careers Expo Trust 2,000.00 Taranaki Life Educa on Trust 50,000.00Taranaki Outdoor Pursuits & Educa on Centre 80,000.00 Recrea on and Sport Athle cs Hawera Inc 1,500.00 Bowls Taranaki Inc 15,000.00 Box Offi ce Boxing Inc 25,000.00 Egmont A&P Assn Inc 4,000.00 Gymnas cs Waitara Inc 5,660.00 Hawera United Cricket Club Inc 5,000.00 Li le Forest Raceway 1,000.00 Mountain Miniature Horse Society Inc 1,000.00 Netball Taranaki Inc 100,000.00 New Plymouth Mountain Bikers 10,000.00 North Taranaki Bird Club Inc 1,000.00 NZ Cycle Fes val Trust 5,000.00 Special Olympics North Taranaki 15,000.00 Sport Taranaki 170,000.00 Stra ord Agricultural & Pastoral Assn 5,000.00 Stra ord Community Sports Society Inc 30,000.00 Stra ord Cricket Club 3,200.00 Swimming New Zealand Inc 45,000.00 Swimming Taranaki Inc 5,000.00 Taranaki Basketball Club Inc 50,000.00 Taranaki BMX Assn Inc 35,000.00 Taranaki Community Stadium Trust 25,000.00 Taranaki Dog Trial Showring Club 600.00 Taranaki Elite Athletes Founda on 25,000.00 Taranaki Garden Trust 8,000.00 Taranaki Gardens Fes val Trust 49,000.00 Taranaki Paraplegic & Physically Disabled Assn 25,000.00 Taranaki Rugby Football Union 200,000.00 Taranaki Secondary Schools' Sports Assn 25,000.00 Taranaki Tai Chi Chuan Assn Inc 1,000.00 Taranaki Tennis Assn 25,000.00 Taranaki Triathlon & Mul sports Club Inc 20,000.00 Taranaki Vehicle Events Trust 60,000.00 Venture Taranaki Trust 75,000.00 Vogeltown Bowling & Social Golf Croquet Club 1,500.00 Waiwaka Tennis Club 3,500.00 Youth Glide New Zealand Inc 3,000.00

Programme & Event Grants Total 4,527,353.00

TOURING PRODUCTION GRANTS NPDC Bowl of Brooklands - Bryan Adams 20,000.00 NPDC Bowl of Brooklands - Cat Stevens 20,000.00 TSB Showplace - Air Play 10,000.00 TSB Showplace - Black Grace - As Night Falls 7,000.00 TSB Showplace - Chamber Music 2018 10,000.00 TSB Showplace - My Name is Moana 5,000.00 TSB Showplace - Odd One Out - Capital E Live Theatre 3,300.00 TSB Showplace - Rado and Raybon - Save the World 3,500.00

Touring Production Grants Total 78,800.00

PROJECTS Capability Building Great Fathers Trust 30,000.00 Taranaki Badminton Assn 3,000.00 Taranaki Innova on Event 387.00 Te A awa Iwi Charitable Trust 11,350.50Te Pou Tiringa Inc 19,995.00 Te Puna Trust 30,000.00 The Ākina Founda on 7,219.00 The Paren ng Place 19,990.00 The Wheelhouse 13,990.50 Tiaki Te Mauri o Parininihi Trust 3,000.00 Tonic Conference - Taranaki 2017 (Not-For-Profi t Subsidy) 8,000.00 Strategic Philanthropy Catalyst Housing Ltd 1,520.00 Centre for Social Impact 25,133.61 Paren ng Place 147,410.00

Te Pou Tiringa Inc 870,000.00Other 30 Year Celebra on 15,625.00

Projects Total 1,206,620.61

GRANTS REFUNDED NPDC - Puke Ariki - Language Revitalisation -262.88Merrilands Playgroup -380.50Toko School -300.00New Plymouth Adven st Chris an School -1,380.00

Total Refunds -2,323.38

Grants Withdrawn -216,685.00Grants commi ed in prior years paid in 2017-2018 -1,830,761.61

TOTAL PAID 2017-2018 7,837,563.53

GRANTS COMMITTED 2017-2018 TO BE PAID CAPITAL GRANTS Arts, Culture and Heritage Ngā Manuhiakai 9 Reserva on (Te Aroha Marae) 50,000.00Ngati Rahiri Hapu o Te Atiawa Inc 30,000.00Oeo Pa 50,000.00Ōrimupiko 12 Part Māori Reservation Trust 50,000.00Taranaki Aviation Transport & Technology Museum Inc 33,000.00Community Wellbeing Alzheimers Taranaki Inc 75,000.00Hawera Baptist Church 20,000.00Huinga Hall Society Inc 33,000.00Inglewood Welfare Society Inc 50,000.00NPDC - Community Reuse & Recycle Centre 150,000.00Health and Rescue Services Opunake Volunteer Fire Brigade 15,000.00Learning Eltham Kindergarten 50,000.00Okaiawa Preschool at Matapu 35,000.00Recrea on and Sport Egmont A&P Ass Inc 150,000.00Kaponga Rugby Football Club 5,000.00Matapu Hall Society Inc 25,000.00New Plymouth Model Aero Club Inc 5,000.00Opunake Bowling Club Inc 10,000.00South Taranaki RSA Inc 27,400.00Te Ngutu Golf Club Inc 20,000.00Waitara Squash Club 10,000.00

Capital Total 893,400.00

PROGRAMME AND EVENTS GRANTSArts, Culture and Heritage Bay of Plenty Music School New Plymouth 4,000.00Dame Malvina Major Foundation Taranaki Branch 120,000.00New Plymouth Operatic Society 20,000.00Taranaki Iwi Charitable Trust 20,000.00Taranaki Music Education Trust 28,000.00Community Wellbeing Central Taranaki Blue Light Ventures 25,600.00NPDC - Puke Ariki & Govett-Brewster Art Gallery 20,000.00SDC - Puanga Event 10,000.00Environment Toimata Foundation 20,000.00

Programme & Events Total 267,600.00

TOURING PRODUCTION GRANTS TSB Showplace - He Kura E Huna Ana 14,000.00TSB Showplace - Mrs Krishnan's Party 15,000.00

Touring Producti on Total 29,000.00

PROJECTS 30 Year Celebration 69,375.00Fit for Funding Expo 500.00 Parenting Place 271,920.00

Projects Total 341,795.00

TOTAL TO BE PAID 1,531,795.00 GRAND TOTAL $9,369,358.53

Grants Commi ed in prior years s ll to pay

Netball Taranaki Inc 300,000.00 Centre for Social Impact 71,828.13 Mul Year Commitments 4,710,600.00

15

STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSES FOR THE YEAR ENDED 31 MARCH 2018 Revenue 2018 $ Restated 2017 $

Dividend revenue 11,000,000 12,850,000Overhead recovery revenue 55,472 -Dona ons received 1,511 -Interest revenue 639,900 751,034Total Revenue 11,696,883 13,601,034Expenses Grants – paid 7,837,563 6,920,426Grants – commi ed to be paid 1,531,795 2,239,775Other opera ng expenses 1,487,579 1,267,411Total Expenses 10,856,938 10,427,612Opera ng Surplus/(Defi cit) before Impairment 839,945 3,173,422 Reversal of impairment losses 207,436 95,480Surplus/(Defi cit) for the year 1,047,381 3,268,902Other Comprehensive Revenue and Expenses - -Total Comprehensive Revenue and Expenses for the year 1,047,381 3,268,902

STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 31 MARCH 2018 Restated Retained Restated Total Trust Capital $ Reserve Fund $ Earnings $ Equity $Balance at 1 April 2017 10,000,100 8,887,145 8,056,599 26,943,844Surplus for the year - - 1,047,381 1,047,381Total comprehensive revenue and expenses for the year - - 1,047,381 1,047,381

Transfer to / (from) - (967,145) 967,145 -Balance as at 31 March 2018 10,000,100 7,920,000 10,071,125 27,991,225Balance at 1 April 2016 10,000,100 8,408,378 5,266,464 23,674,942Surplus for the year - - 3,268,902 3,268,902Total comprehensive revenue and expenses for the year - - 3,268,902 3,268,902

Transfer to / (from) - 478,767 (478,767) -Balance as at 31 March 2017 10,000,100 8,887,145 8,056,599 26,943,844

STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2018 2018 $ Restated 2017 $Current assets 14,657,056 12,777,105Non-current assets 15,473,058 16,715,045Total Assets 30,130,114 29,492,150

Current liabili es 2,138,889 2,548,306Equity 27,991,225 26,943,844Total Liabili es and Equity 30,130,114 29,492,150

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2018 2018 $ 2017 $Net cash fl ow from/(used in) opera ng ac vi es 455,899 1,500,665Net cash fl ow from/(used in) inves ng ac vi es 3,132,397 (1,153,925) Net increase/(decrease) in cash and cash equivalents 3,588,296 346,740Cash and cash equivalents at beginning of the year 1,270,361 923,621

Cash and cash equivalents at end of the year 4,858,657 1,270,361 These fi nancial statements have been issued for and on behalf of the Trustees on 20 June 2018 by:

Chairperson Trustee

TSB COMMUNITY TRUST SUMMARY FINANCIAL STATEMENTS

16

Reporting EntityThese summary fi nancial statements comprise the fi nancial statements of TSB Community Trust (the “Trust”) for the year ended 31 March 2018. The Trust is domiciled in New Zealand and incorporated under the Charitable Trust Act 1957. The Trust is a community trust as defi ned in the Community Trusts Act 1999.The nature of the Trust’s operati ons is investment and applicati on of the Trust funds for community benefi t. The Trust has been established to carry on acti viti es for the exclusive benefi t of the community within Taranaki. The fi nancial statements were authorised for issue by the Trustees on 20 June 2018.

Basis of PreparationThe full fi nancial statements were prepared in accordance with Tier 1 Public Benefi t Enti ty (PBE) Reporti ng Standards as issued by the New Zealand External Reporti ng Board (XRB). They comply with New Zealand equivalents to Internati onal Public Sector Accounti ng Standards (NZ IPSAS) and other applicable Financial Reporti ng Standards as appropriate to Public Benefi t Enti ti es. These summary fi nancial statements have been prepared in compliance with PBE FRS 43: Summary Financial Statements. These summary fi nancial statements have been extracted from the full fi nancial statements and do not include all the disclosures provided in the full fi nancial statements. The summary fi nancial statements cannot be expected to provide as complete informati on as provided in the full fi nancial statements. The full fi nancial statements have been audited with an unmodifi ed audit opinion issued on those statements for both periods the fi nancial statements cover.

Presentation CurrencyThe fi nancial statements are presented in New Zealand dollars. All numbers are rounded to the nearest dollar.

ComparativesThe compara ve fi nancial period is 12 months.

Contingent Assets and Contingent LiabilitiesThe Trust has no material con ngent assets (2016: Nil). Con ngent Liabili es 2018 $ Restated 2017 $Mul -year commitments 4,710,600 3,097,000

Conti ngent grants are donati ons approved but the distributi on is subject to the donees meeti ng certain conditi ons.

Events after the Reporting DateThere are no material events subsequent to balance date which are not otherwise disclosed in the fi nancial statements of the Trust.

Separate Financial StatementsThe Trust has prepared these separate fi nancial statements to provide more relevance to users, as the size and presentati on of the consolidated fi nancial statements does not facilitate a meaningful comparison of the Trust’s results by those users. The Trust has 100% ownership of TSB Group Limited, a company incorporated in New Zealand. The Trust holds 100% of the voti ng power. The investment is accounted for at cost. The consolidated fi nancial statements of the Trust can be obtained from the Trust Chief Executi ve:

PO Box 667, New Plymouth or by telephoning (06) 769-9471.

NOTES TO THE SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

NOTES TO THE SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 Change of Accounting PolicyFollowing consultati on with the Board of Trustees, management have altered the accounti ng policy in relati on to the recogniti on of grant expenditure in order to more accurately present informati on to the users of the fi nancial statements. As a consequence, the amended accounti ng policy results in grant expenditure being recognised earlier due to the fact that grants are now recognised when approved by the Board of Trustees rather than when payment is made to the grantee.The following tables summarises the impacts on the Trust’s fi nancial statements.

STATEMENT OF FINANCIAL POSITION1 April 2016 As previously reported $ Adjustments $ As restated $Total Assets 28,064,982 - 28,064,982Total Liabili es 108,508 4,281,532 4,390,040Total Equity 27,956,474 (4,281,532) 23,674,942Total Liabili es and Equity 28,064,982 - 28,064,982 31 March 2017 As previously reported $ Adjustments $ As restated $Total Assets 29,492,150 - 29,492,150Total Liabili es 129,031 2,419,275 2,548,306Total Equity 29,363,119 (2,419,275) 26,943,844Total Liabili es and Equity 29,492,150 - 29,492,150 STATEMENT OF COMPREHENSIVE REVENUE AND EXPENSESFor the year ended 31 March 2017 As previously reported $ Adjustments $ As restated $Total Revenue 12,850,000 - 12,850,000Total Expenses 12,289,869 (1,862,257) 10,427,612Surplus for the year 1,406,645 1,862,257 3,268,902Total Comprehensive Revenue and Expense for the year 1,406,645 1,862,257 3,268,902

INDEPENDENT AUDITOR’S REPORT To the Trustees of TSB Community Trust Report on the Summary Financial Statements

OpinionIn our opinion, the accompanying summary fi nancial statements of TSB Community Trust (the Trust) on pages 16 to 17:

i. Has been correctly derived from the audited Trust fi nancial statements for the year ended on that date; and

ii. Is a fair summary of the Trust fi nancial statements, in accordance with PBE FRS-43 Summary Financial Statements.

The accompanying summary fi nancial statements comprises:— the summary statement of fi nancial positi on as at 31 March 2018;— the summary statements of comprehensive revenue and expenses, changes

in net assets and cash fl ows for the year then ended; and— notes, including a summary of signifi cant accounti ng policies and other

explanatory informati on.Basis for opinionWe conducted our audit in accordance with Internati onal Standard on Auditi ng (New Zealand) (ISA (NZ)) 810 (Revised), Engagements to Report on Summary Financial Statements. Other than as our capacity as the auditor we have no relati onship with, or interest in, the Trust.

Use of this Independent Auditor’s ReportThis report is made solely to the Trustees as a body. Our audit work has been undertaken so that we might state to the Trustees those matt ers we are required to state to them in the Independent Auditor’s Report and for no other purpose. To the fullest extent permitt ed by law, we do not accept or assume responsibility to anyone other than the Trustees as a body for our audit work, this report, or any of the opinions we have formed.

Responsibili es of the Trustees for the summary fi nancial statementsThe Trustees, on behalf of the Trust, are responsible for:

— the preparati on and fair presentati on of the summary fi nancial statements in accordance with PBE FRS-43 Summary Financial Statements; and

— implementi ng necessary internal control to enable the preparati on of a summary set of fi nancial statements that is correctly derived from the audited fi nancial statements.

Auditor’s Responsibili es for the summary fi nancial statementsOur responsibility is to express an opinion on whether the summary fi nancial statements are consistent, in all material respects, with (or are a fair summary of) the audited fi nancial statements based on our procedures, which were conducted in accordance with Internati onal Standard on Auditi ng (New Zealand) (ISA (NZ)) 810 (Revised), Engagements to Report on Summary Financial Statements.

We expressed an unmodifi ed audit opinion on the fi nancial statements in our audit report dated 20 June 2018.

The summary fi nancial statements do not contain all the disclosures required for a full set of fi nancial statements under generally accepted accounti ng practi ce in New Zealand. Reading the summary fi nancial statements, therefore, is not a substi tute for reading the audited fi nancial statements of the Trust.

KPMGWellington20 June 2018